Amundi Reduces Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Amundi lowered its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 37.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,796,577 shares of the information technology service provider's stock after selling 1,673,634 shares during the period. Amundi owned approximately 0.56% of Cognizant Technology Solutions worth $212,806,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Addison Advisors LLC raised its position in shares of Cognizant Technology Solutions by 127.7% during the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider's stock worth $26,000 after purchasing an additional 189 shares during the period. Duncker Streett & Co. Inc. purchased a new stake in Cognizant Technology Solutions in the 4th quarter valued at about $28,000. Ashton Thomas Securities LLC bought a new stake in Cognizant Technology Solutions during the third quarter worth $30,000. Trust Co. of Vermont boosted its holdings in shares of Cognizant Technology Solutions by 188.4% in the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider's stock worth $34,000 after buying an additional 292 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at approximately $36,000. Institutional investors own 92.44% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CTSH shares. StockNews.com raised Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a report on Thursday, February 6th. UBS Group lifted their target price on shares of Cognizant Technology Solutions from $83.00 to $86.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Royal Bank of Canada increased their target price on Cognizant Technology Solutions from $82.00 to $93.00 and gave the company a "sector perform" rating in a research note on Thursday, February 6th. Morgan Stanley lifted their price target on Cognizant Technology Solutions from $80.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Finally, BMO Capital Markets increased their price objective on Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a "market perform" rating in a research report on Thursday, February 6th. Sixteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $83.67.

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Cognizant Technology Solutions Stock Up 0.9 %

CTSH traded up $0.77 during trading on Monday, hitting $84.00. 9,938,424 shares of the company's stock traded hands, compared to its average volume of 3,762,991. The stock has a market capitalization of $41.55 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 2.11 and a beta of 1.12. The company's 50 day simple moving average is $82.12 and its two-hundred day simple moving average is $79.34. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $90.82. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. Analysts predict that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were issued a $0.31 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.24 annualized dividend and a yield of 1.48%. This is a boost from Cognizant Technology Solutions's previous quarterly dividend of $0.30. Cognizant Technology Solutions's dividend payout ratio (DPR) is currently 27.49%.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.